7 Dec 2023
Friday 18 March 2022
Story Code : 394604

Bank loans to economic sectors increase nearly 55%

Iranian banking system has paid 25.433 quadrillion rials (over $97.819 billion) of facilities to domestic economic sectors in the first 11 months of the current Iranian calendar year (March 21, 2021-Februaray 19, 2022), registering a 54.9-percent rise from the same period in the previous year.

According to the data provided by the Central Bank of Iran (CBI), working capital loans paid to different economic sectors in the mentioned 11 months were above 16.782 quadrillion rials (about $64.546 billion), accounting for 66 percent of the total provided facilities.

During the said period, the countrys mining and industry sector received over 7.766 quadrillion rials (about $29.869 billion) in the form of working capital loans, accounting for 79.2 percent of the total such facilities.

In its latest report on the payment of facilities to various economic sectors, CBI emphasizes that in order to continue the payment of facilities to economic sectors it is necessary to consider inflation control strategies.

Over the past three years, CBI has been collaborating with the Industry, Mining, and Trade Ministry for implementing a program based on which bank facilities are provided to small and medium-sized enterprises (SMEs) and semi-finished projects.

The said facilities are mainly provided for renewing machinery, equipping production units, or completing semi-finished projects.

The mentioned program was kicked off in February 2019.



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